Bitcoin Price Slips to $68K as Trump Announces 15% Global Tariff Hike

Bitcoin (BTC) edged lower on Saturday after U.S. President Donald Trump announced a new 15% global tariff, escalating trade tensions despite a recent U.S. Supreme Court ruling that invalidated his earlier tariff actions. The court determined that Trump lacked the authority under the International Emergency Economic Powers Act (IEEPA) to impose the previous round of tariffs introduced earlier this year.

In a post shared on Truth Social, Trump criticized the Supreme Court’s decision as “anti-American” and confirmed that the tariff rate would immediately increase from the previously proposed 10% to 15%. He added that his administration would spend the coming months developing and issuing what he described as “legally permissible” tariffs.

The cryptocurrency market reacted swiftly to the announcement. Bitcoin initially rose about 0.5% following the post but quickly reversed course, dropping nearly 1% and settling near $68,000. The world’s largest cryptocurrency continues to show sensitivity to macroeconomic developments, particularly those involving U.S. trade policy and global financial stability. Ether (ETH), the second-largest cryptocurrency by market capitalization, also declined 0.45%, trading around $1,980 after the news.

The renewed tariff hike comes shortly after the Supreme Court ruled that the administration’s earlier trade measures exceeded presidential authority. In response to that decision, Trump had announced a new 10% worldwide tariff, which has now been raised to 15%, further intensifying uncertainty in global markets.

Crypto investors are closely monitoring these developments as trade policy shifts and geopolitical tensions often influence risk assets like Bitcoin and Ethereum. While digital assets are sometimes viewed as hedges against economic instability, short-term price movements frequently reflect investor reactions to breaking political and economic news.

As the situation evolves, market participants will be watching for further updates from the Trump administration and assessing how new tariff measures could impact global markets and cryptocurrency prices.